Likelihood to Recommend

Adaptive Insights, a Workday company

It is well suited for mid-size companies to have a budgeting, forecasting, and reporting platform. The system needs data and someone to maintain it so it would not be well suited for a small company or one without a dedicated finance team.

Credit card processing

Cost of goods sold

Pros

Adaptive Insights, a Workday company

Infinite ability to group accounts and departments for reporting. The only limitation is the number of ways that you think of in terms of consolidating the information.

Being able to build scalable, complex, distributed, budget models. With the data we can bring into the system and the formulas we can use we have all the functionality of the spreadsheet, but with the flexibility to allow leaders across the organization to participate and update their section.

The platform allows multiple forecast/budget versions which allows for version control and sensitivity analysis. I can lock versions from changes while quickly creating a new version to see the impact of a +or- scenario to the company’s profitability.

With the OfficeConnect tool we can leverage Excel to provide repeatable reports for the board and other business leaders that are repeatable from month to month. While the platform provides more flexibility than an accounting package it still has limitations. Using OfficeConnect I can leverage the power of the Microsoft suite of Excel/Word/PowerPoint directly.

Financial Edge NXT

At this time it doesn’t distribute negative entries to the correct project when there are multiple projects. This becomes a problem when you are trying to use a credit for one project but expenses invoice to a different project.

The edit feature for imported journal entries is more difficult than in Financial Edge.

Usability

Adaptive Insights, a Workday company

Adaptive Insights, a Workday company 7.5

Based on 76 answers

Menus are easy to navigate, sheets are straightforward and flexible and you can work on your budget/forecasts without being at the office. The cloud based system makes it easy for users to complete their processes offsite and without needing there work provided computer. Creating new reports using both the web based Adaptive tool and OfficeConnect is quite simple with very minimal training.

Financial Edge NXT

Support

Adaptive Insights, a Workday company

Adaptive Insights, a Workday company 6.8

Based on 11 answers

Support requests are always handled promptly and resolved favourably.Many user support requests arise during initial deployment and use and often represent questions relating to best methods or how to approach their particular situation, which we gladly assist with as we provide the appropriate skills transfer training and assistance.As clients become more knowledgeable in working with the product suite then they tend not to ask many questions.

Online Training

Adaptive Insights, a Workday company

Adaptive Insights, a Workday company 8.2

Based on 6 answers

Training receives the highest rating due to the availability of Webex training from an expert at Adaptive, with several sessions tailored to specific features including personnel, capital, formulas, reporting, etc

Alternatives Considered

Adaptive Insights, a Workday company

Adaptive blows away Hyperion from an ease of use, functionality and performance standpoint. The reason we selected Adaptive initially was the flexibility of the tool (sheets), going from manual forecasts to a web based tool and being able to build assumptions into our budget and forecasting processes. Also, the cost of Adaptive licenses provided significant savings when compared to the annual fees that we paid Oracle for use and support of their system.

Financial Edge NXT

Return on Investment

Adaptive Insights, a Workday company

Budget and forecast cycles have been reduced due to the ease of data input by our end-users. We used to allow user a month to input annual budget data and we can now complete this process in two and a half weeks.

Forecasts used to be completed using Excel by our 17 divisions. Adaptive has allowed for us to complete the forecast process using the Adaptive tool which allows us to consolidate our forecasts immediately versus a manual process.

Month-end reporting used to take us 5 days to complete our package prior to using Adaptive. Our organization can now finalize our reporting in no more than 3 days due many of the reports coming straight from Adaptive.